Proposed act may offer tax credit for rural wind power installations
Members of the U.S. House of Congress have introduced the Rural Wind Energy Development Act, which could establish tax credits to promote wind energy development. The bill aims to give rural homeowners, farmers and small businesses tax credits to help fund wind turbine installations.
The act calls for a tax credit of $1,500 per 0.5 kilowatt of power capacity to install small wind turbines that generate 100 kilowatts or less. A single turbine can provide up to an additional $2,000-$4,000/year in farm income.
“This credit would give a tremendous spark to our corner of the green energy industry and to all the individuals out there hoping to buy a small wind turbine for their homes or farms,” said Robert Preus, president of wind turbine manufacturer Abundant Renewable Energy. “This would also be very big news for U.S. manufacturing jobs.”
The American Wind Energy Association and the Distributed Wind Energy Association strongly support the act, which could help grow the wind industry. In turn for a higher number of wind turbine installations, industry leaders say small businesses benefit from selling the energy generated from the wind turbines that will help power the grid. A single turbine can provide up to an additional $2,000-$4,000/year in farm income.
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